Making socially affordable drug market, StayHappi Pharmacy takes on growth of Pharma Industry
The growth and structure of the pharmaceutical industry have an impact on healthcare expenditure. Healthcare expense is of major global concern and so as the high drug prices. The regulation of drug prices in India from the perspectives of the healthcare of the poor and affordability is always under examination for developing countries like ours.
Prices of pharmaceuticals affect the healthcare cost accounting a large part of expenditure. Indian Council of Medical Research and health expenses have largely been met with household out-of-pocket expenditure, especially in countries like India, one of the major causes for large number of households falling into poverty. StayHappi Pharmacy, initiative of SarvaGunAushdhi Private Limited, incepted with a firm belief to serve humanity by providing High-Quality Medicines at ‘Real and Affordable’ price, promotes a wide range of generic medicines easing the complex pricing problem associated with branded drugs, and is leaving a positive impact in reducing out of pocket expenditure for consumers.
In India, with economic growth and increasing old-age population and epidemiological transition, there is a growth noticed in healthcare expenditure, healthcare awareness, needs and facilities. Under these circumstances, availability and accessibility of medicines at affordable price for the needy, especially the poor, is a major policy concern.
To meet such demands, StayHappi generic range of medicines partners with India’s leading pharmaceutical manufacturing firms who caters big Pharmaceutical MNC’s such as Abbott, GSK, Novartis, Sanofi Aventis, Merck, Allergan, etc. as well as Indian organizations like Cipla, Sun Pharma, Torrent, Dr Reddys, Lupin, and many more.
The Indian pharmaceutical industry consists of MNCs, publicly- and privately-held companies of foreign and Indian origin and public sector undertakings of India. The R&D profile of Indian pharmaceuticals includes development of generics, new drug development and delivery systems.
According to the DGCI&S and its primary commodity classification, the values of India’s drugs and pharmaceuticals exports and imports in 2020-2021 touched $24.44 billion, a record growth of 18.07 per cent. With growth in domestic industry and imports and growing public and private expenditure on healthcare, the Indian pharmaceutical sector is growing fast with enormous potential to expand further.
StayHappi is an Indian original brand that provides medicine with their molecule name and not by the brand name, where consumers have the power to choose medicines with equal efficacy and in budget for themselves. The medicines are of a chemical compound with the same composite of ingredients of any brand-name medications, available at a relatively lower cost, meeting same quality, equal amount of safety, effectiveness & standards.
StayHappi set of generic drugs are made in India with the most active pharmaceutical ingredients used to manufacture competing brands of the market. The wide range of medicines is cost effective to the extent of saving up to 30% to 90% on your medicine bills as compared to other market top brand labels.
StayHappi generic medications have gone through testing on many grounds encompassing quality, strength, purity, and potency to show effectiveness before being approved by a list of regulating authorities.
The StayHappi pharmacies are spread across the nation with several outlets stationed at different locations, pacing faster towards the goal of scaling up to 15,000 retail pharmacy stores. Growth in the use of generic consumables is best fit for saving lives and relieving many from morbidity.
The risks and innovation cost of generics are very low compared to that of innovator drugs. There are huge variations in the prices of branded and generic drugs. StayHappi Generic medicines are emerging aggressively promoting drugs and related costs in the case of life-saving drugs, manipulating the actual demand for cheaper substitutes.
The developments over the past year have underlined the importance of an innovative ecosystem, a robust infrastructure for production of these kinds. To be able to do this more consistently, we will need to have a greater thrust in our approaches and look at new possibilities that can capitalise on our strengths.
Innovations from the Pharma industry in India and globally are driving better health outcomes. The current focus needs to be on novel and targeted therapies, and practicing generic medicines for mass economic social wellbeing. State regulations must intervene for social welfare, essential as a correcting mechanism to ensure the safety and efficacy of drugs, besides ensuring their accessibility and affordability.
Source : theprint